<PAGE> 1
EXHIBIT 11
FIDELITY NATIONAL FINANCIAL, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share amounts)
<TABLE>
<CAPTION>
Three months ended Six months ended
June 30, June 30,
-------------------- --------------------
2000 1999 2000 1999
------- ------- ------- -------
<S> <C> <C> <C> <C>
Net earnings, basic basis $31,371 $23,741 $33,240 $43,508
Plus: Impact of assumed conversion of the
LYONs, net of applicable income taxes -- -- -- 263
------- ------- ------- -------
Diluted earnings $31,371 $23,741 $33,240 $43,771
======= ======= ======= =======
Weighted average shares outstanding during
the period, basic basis 66,846 30,423 49,559 30,594
Plus: Common stock equivalent shares assumed
from conversion of options 2,020 1,365 1,588 1,196
Common stock equivalent shares assumed
from conversion of LYONs -- -- -- 712
------- ------- ------- -------
Weighted average shares outstanding during
the period, diluted basis 68,866 31,788 51,147 32,502
======= ======= ======= =======
Basic earnings per share $ 0.47 $ 0.78 $ 0.67 $ 1.42
======= ======= ======= =======
Diluted earnings per share $ 0.46 $ 0.75 $ 0.65 $ 1.35
======= ======= ======= =======
</TABLE>